TSB enters 95% LTV market
The TSB brand returned to the high street in 2013 and this marks its first venture into 95% loan-to-value (LTV) mortgages.
Three products will be available at launch including a 5.69% ten-year fixed rate product, available with no product fee. Also offer is a two-year fix at 4.69% and a 4.99% five-year fix, these products are also fee-free.
These mortgages will initially be restricted to customers applying in branch or over the telephone. TSB said it expects to offer the products through brokers later this year.
Ian Ramsden, head of mortgages at TSB, said the bank was bringing greater competition to the high street.
“TSB was born to bring competition to the market and we are committed to offering our mortgage customers competitive products to help them realise their home ownership plans,” he said.
“We are the only mortgage lender to currently offer mortgages up to 95% with a ten year fixed rate. Helping people to get a foot onto the property ladder is a fundamental part of creating thriving local economies, and people thriving all over Britain is what TSB’s local banking for Britain is all about.”